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Ares Management Corporation and MRP Realty begun construction of a mixed-income residential development on the current site of DCHA in Washington, DC.

1,200-Unit Mixed-Use Residential Project to Rise from Ashes of DCHA Building

Ares Management Corporation and MRP Realty have completed the land closing and Phase 1 construction financing of a mixed-income residential development on the site of the current home of the District of Columbia Housing Authority in Washington, DC.

Acquisition and construction financing is provided by Bank OZK.

The project is located at 1133 North Capitol Street NE in the NoMa neighborhood. Phase 1 will comprise 430 multifamily units, including 86 affordable units.

The multi-phased development will include an estimated 1,200 apartments and is slated to include a minimum of 244 affordable units, at least half of which would be affordable for residents earning 30% or less AMI.

The underutilized, 0.8-acre site currently houses the DCHA in a building at the end of its useful life. The closing will give DCHA funding to address portfolio-wide capital needs and fund a new headquarters building.


Inside The Story

Ares Management Corporation

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Development
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